Upside risks have dominated the US Dollar against the Canadian Dollar since yesterday's trading session. The currency pair has surged 158 points or 1.25% since Wednesday.
The Australian Dollar declined by 132 points or 1.70% against the US Dollar on Wednesday. The currency pair breached the 50-, 100– and 200– hour SMAs during Wednesday's trading session.
The Eurozone single currency edged higher by 52 points or 0.41% against the Japanese Yen on Wednesday. The currency pair broke a resistance level at 126.11 during Wednesday's trading session.
During Wednesday morning hours, the XAU/USD exchange rate breached the rising wedge pattern south.
Yesterday, the USD/JPY currency pair failed to decline below the 103.60 level.
Since Tuesday afternoon, the GBP/USD exchange rate has been testing the upper boundary of the rising wedge pattern.
During Wednesday morning hours, the EUR/USD currency pair bounced off the 1.2170 level.
The NZD/USD currency pair bounced off a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 0.7166 during Tuesday's trading session.
The US Dollar declined by 91 pips or 0.71% against the Canadian Dollar on Tuesday. The decline was stopped by the 100– hour simple moving average at 1.2689 during yesterday's trading session.
Australia's Dollar surged by 80 pips or 1.04% against the Greenback on Tuesday. A breakout occurred through the upper boundary of a descending channel pattern at 0.7722 during Tuesday's trading session.
The common European currency surged by 40 pips or 0.32% against the Japanese Yen on Tuesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.
The XAU/USD exchange rate has revealed a rising wedge pattern.
Since Friday, the USD/JPY currency pair has been trading sideways in the 103.70/103.90 range.
During Tuesday morning hours, the GBP/USD exchange rate bounced off the lower line of the rising wedge pattern at 1.3610.
Yesterday, the EUR/USD currency pair reversed south from the resistance level at 1.2180.
The New Zealand Dollar declined by 38 basis points or 0.53% against the US Dollar on Monday. The currency pair reversed from the upper line of a descending channel pattern at 0.7213 during yesterday's trading session.
The US Dollar surged by 64 basis points or 0.51% against the Canadian Dollar on Monday. The currency pair bounced off the lower boundary of an ascending channel pattern during yesterday's trading session.
The Australian Dollar declined by 42 basis points or 0.54% against the US Dollar on Monday. The 50-, 100– and 200– hour SMAs provided resistance for the currency pair during yesterday's trading session.
The common European currency declined by 52 basis points or 0.41% against the Japanese Yen on Monday. The EUR/JPY currency pair breached the 50– hour simple moving average during yesterday's trading session.
Since Friday evening, the XAU/USD exchange rate has been testing the resistance formed by the Fibo 23.60% and the 55-hour SMA circa 1,860.00.
The USD/JPY currency pair has revealed a short-term descending channel.
The GBP/USD exchange rate continues to follow the rising wedge pattern.
Since Friday, the EUR/USD currency pair has been testing the resistance level at 1.2180.
The NZD/USD started the week's trading near the upper trend line of a wide channel down pattern. Short term forecasts were based upon whether or not the trend line provides resistance.